Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Gate Neurosciences plans to acquire a fellow biotech startup, Menlo Park, California-based Boost Neuroscience, the companies announced Wednesday.
Founded in 2019, Gate is developing next-generation treatments for diseases and disorders of the central nervous system. The company, which currently has 12 employees, was originally based in Carmel but now has its headquarters at 16 Tech. It also has research facilities in Evanston, Illinois.
Gate is currently in Phase 2 clinical trials for zelquistinel, a once-weekly oral medicine for treatment of depression. Zelquistinel targets the brain’s synapses—the connections between brain cells. It is designed as a rapid-acting medicine, in contrast with other types of depression medications that can take weeks to deliver symptom relief.
Boost, born out of the Stanford University lab of Dr. Tom Südhof, has developed a platform for discovery and development of therapeutics that target the synapses. Südhof, a physician, was a member of a three-person team who won the Nobel Prize in Physiology or Medicine in 2013. Founded in 2020, Boost currently has fewer than 10 employees.
The acquisition will include Boost’s discovery and development platform, and its 3,000-square-foot laboratory and office space in Menlo Park.
As part of the deal, Catalio Capital Managing Director Jacob Vogelstein will join Gate’s board of directors. Catalio is a New York City-based firm that invests in biotech companies, and Boost is one of its portfolio companies.
When reached by IBJ, a Gate spokesperson said a closing date for the deal is yet to be determined.
Please enable JavaScript to view this content.